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Jun 21, 2013 7:00pm EDT
point. the economy is soft, inflation virtually non-existent and i'm just going to add why risk deflation when we barely have a recovery at all? one major consequence of the bernanke policy of ending bond purchases is the big jump in interest rates and that, in turn, changes stock market valuations and that is one big reason for the large correction in stocks this week. no one can foretell the future. least of all, me. but let me just ask a couple of questions here. have treasury rates completely discounted an end to qe, okay? i don't think they have. here's my fear. i'm just going to say this. if you play this out, the ten-year treasury ought to be the same as the growth of total spending or nominal gdp in the economy and that's 3.5%, maybe 4%. we're at 2.5% on the treasury. in other words, in the last year we'll be looking at rates going to 4% in treasurys and i don't think that's in the market yet. now, also, will both stocks and bonds play cat and mouse with the fed? every day, every week, every month for the next couple of months. that's going to be a tough one. since i don
Jun 18, 2013 7:00pm EDT
today, and roughly 2% under performing economy, there's just no reason for interest rates to jump higher. the u.s., by the way, is really the only global stock market game in town. our companies are profitable. so at these levels it may not be roaring bullish. i don't think the fed is going to taper down tomorrow, and i do believe the bull market is far from over. that's my take. let's welcome kenneth heed ner. and i'm joined by george gilder. he has the book "knowledge is power." ken, what say you? >> i say that we have a number of years of growth ahead of us in the economy. it's growing at 2%. it's going to accelerate as consumer confidence rises with rising housing prices. we'll see 3, 4, 5% growth rate. >> 3, 4, 5%, those are big numbers. you had an okay housing number today but housing starts are up 29% on year. here's my inflation point. the year-to-year cpi, 1.4%. guys like me two years ago worry about inflation, money printing, i was wrong. i said that before. the best set indicator, 1.0%. without inflation, why should inflation rates have to go higher? >> they go a little bit hi
Jun 19, 2013 7:00pm EDT
not be until december or early next year. third point, the u.s. economy's still only growing sluggishly, only 2% growth. just about 1% inflation. modest profits. falling gold. and a steady king dollar. interest rates in my view are not going to skyrocket. there's more money to be made in stocks. the second half is going to be a slower slog than the first half. okay? that's my take on the story. here now we bring in former federal reserve governor frederick mishkin, currently an economics professor at columbia university. welcome back, rick. i just want to ask you, this is a very complicated news conference and a lot of people are saying many different things. first of all, let me ask you if i have the story right. i heard the news conference. the fed will slow down bond purchases toward the end of the year. is that what bernanke said? >> i think what they're trying to do, they've been very concerned, i'm sure, about all the volatility in the markets. and they want to make sure that people understand that in fact they are going to get out of this purchase program, which raises a lot of complicat
Jun 20, 2013 7:00pm EDT
base metals, indication of a slower global economy. commodity stocks, of course, they get hit when the dollar rises, 3%, 4% declines. they've been down 15% in the last six weeks here. let's move on here. there was no place to hide. it didn't matter. consumer staple stocks down 3%. utilities were down 3%. consumer discretionary defense care is not defensive. there wasn't any place to hide. i just want to note, larry, the s&p 500 down 5% from its historic high just about a month ago, but it's still up almost 12% on the year. bear that in mind, i want to know we're already getting deals cancelled and we had one secondary canceled tonight and brookfield renewable energy and they own wind mills and natural gas-fired power plants and they canceled late tonight due to what they call market conditions and the slide to the downside. larry, right now the futures are pretty much unchanged and we'll have it open tomorrow with a lot of trading and it will be the options exploration. after that, a lot of people here are hoping for a relatively smooth day, but nobody knows for sure. back to you.
Jun 17, 2013 7:00pm EDT
, but they are not focusing on the right thing which is growth, growth, growth. the european economy is in a six-quarter double dip recession. the u.s. is sub par. japan is trying to reignite, and i'm especially critical of european monetary policy which is way too tight. and speaking of monetary policy, our markets are more obsessed with it than ever. strong stock buys this afternoon, based on just one reporter from "the financial times" and his ill-advised, uninformed conjecture about what the fed would do, and then when that same reporter tweeted everybody that he really had no idea what he was talking about, well, stocks regained most of their losses. crazy story. an nsa leaker edward snowden points his finger straight at the big tech companies. they said they should resist the government's demand for user information. wrong. they should abide by all our laws, especially national security laws. all those stories and much more coming up on "the kudlow report" beginning right now. >>> let's start right away with cnbc's michelle caruso-cabrera. she is covering the g-8 summit. michelle, good eve
Search Results 0 to 4 of about 5